Global Graphics has published its half-year report and unaudited interim financial statements for the six months ended June 30, 2021, which show significant revenue and EBITDA growth.
Revenue (unaudited) from continuing operations for the period was up 99.7 percent to EUR 23.77 million, compared with EUR 11.90 million for the same period in 2020 and EBITDA (unaudited) increased 48.6 percent to EUR 5.81 million from EUR 3.91 million in 2020.
‘Global Graphics started 2021 with the acquisition of Hybrid Software, a strategic technology partner which effectively doubled our headcount and revenue, commented Mike Rottenborn, CEO of Global Graphics. ‘It brings extensive expertise in labels and packaging, a worldwide sales and technical organization, a growing recurring revenue component, and most importantly, a very profitable end-user sales presence to the group. Revenues from Hybrid for the first half of 2021 were EUR 10.4 million, increasing more than 30 percent from 2020, with EBITDA at 35 percent of revenue.
‘Meteor Inkjet outperformed its revenue targets again, with continued strong sales in the Chinese ceramics market. However, sales from outside of China continue to grow, both due to increased orders from existing customers worldwide and from many new customers, especially in the 3-D printing and additive manufacturing segment.
‘Xitron’s sales have been bolstered both by increased OEM business and by end-users upgrading older Navigator RIPs to the newest version built on Harlequin V13. As the industry resumes physical, in-person trade shows in the US later this quarter, we expect Xitron’s revenues to continue to increase.’
Guido Van der Schueren, chairman of Global Graphics, added: ‘These results underline how Hybrid Software and Global Graphics together are a winning combination. Hybrid Software has immediately contributed to the group’s results and cash position, and I have been delighted with the smooth integration of the businesses following the completion of the acquisition.
‘Together, we occupy a unique position in the industry as the provider of hardware and software components to OEM and end-user customers required to drive digital printing equipment. We have many customers in common who are excited about the opportunities presented by a broader range of innovative solutions. These are encouraging signals for future growth and value for shareholders.’